Home Selling Success: Four Real Estate Communication Barriers (and How to Deal with Them)

“Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results”-Warren Buffet

 

Anyone who has ever had even the slightest brush with selling real estate properties would be well aware of just how difficult and challenging the endeavor can be.

Even for seasoned professionals in the field such as real estate agents, getting through a client and turning the transaction into a successful sale can be quite a challenging feat. After all, while real estate properties are perpetually in demand, you deal with a variety of acreages and homes that come in a range of asking prices. More importantly, you deal with different clients and how well you communicate with them is pivotal to whether you would successfully make sale or not. Every transaction will be different just as how every client is unique and how successful a particular transaction would be hinged on your ability to convey your offers with your client, how well you can establish rapport with them and gain their trust. Remember, to finally close a deal with your prospective homebuyers and potential clients; there are communication gaps and barriers you would need to overcome and hurdle—some of which would form a complex of communication difficulties of which most real estate agents routinely face.

So, whether you are pitching a deal to your client who is looking for a 1br condo for rent in Makati or elsewhere, you need to be at least aware of what the potential difficulties and impediments you would likely face. This is to ensure that you would be able to address them better. In any case, here is a compilation of typical scenarios and tips that can be helpful in ensuring you bridge the communication gap between you and your client:

 

Lacking interest in the client’s needs

When it comes to a transaction with a client, keep in mind that their needs are paramount. As a real estate agent, it is your responsibility to take time to understand their needs and just how exactly you can give them a deal that would address that. Focusing on making a sale would only drive your client away—especially if you are doing a hard sell. Instead of being so fixated on making a sale, sit down with your client and ask them why they would need to buy a unit first to determine what exactly it is they are looking for. In this way, you prevent the possibility of turning them off on your initial meeting.

 

Lacking knowledge about the projects you are offering

Some may call this a novice mistake, but it is rather surprising how so many real estate agents do not even have the slightest clue about the industry they are or even the projects they are offering. As a real estate agent, you act as the median between your client and the property developer insomuch that you should have sufficient knowledge about what you are trying to sell. When a client asks you questions, you should be able to answer them to their satisfaction. An agent who is unable to address these queries would come off as unprepared and unprofessional and would result in a client losing their trust in them. To ensure that this does not happen, research your product and study as much as much about your industry as you can. Remember, as a real estate agent; you are expected to be somewhat of an expert about what you are selling. So, live up to that expectation by always coming to client meetings prepared.

 

Using real estate jargon

While you are expected to use real estate jargon in your sales spiel, it should only be to a reasonable extent. Keep in mind that your clients have absolutely no idea about what these words probably mean or if they do, they are not fully aware of its connotation. It is only very rare that you can encounter a prospective client who would have an excellent handle on the real estate jargon you would be spewing and would consequently be able to comprehend your spiel. In this regard, you should be able to convey your offer explicitly to the client in such a way that they would be able to understand it completely. Similarly, do not plow through your meeting without stopping every now and then to address your client’s questions. Do not make your spiel sound too over-complicated by peppering it with unfamiliar and technical terms. You may think like you sound professional, but you are not getting anywhere near that sale. To ensure that there is no misunderstanding between you and your clients, take a moment to translate real estate jargons in your spiel. Alternatively, you can offer your spiel as simply as you possibly can. Remember, a client rarely every buys something that they cannot understand. So, remedy that by keeping your pitch straightforward and simple.

 

Failing to focus on what the client is saying

Understandably, you would be handling more than just one client in a single day. In fact, you might have a full schedule filled with client meet-ups daily, and that is reasonable. However, as a real estate agent, you should not let your full schedule distract you from your client meetings insomuch that you would be unable to focus on what a potential homebuyer is trying to tell you in a meeting. Multi-tasking might be something you can expertly execute, but this should be avoided whenever you are with a homebuyer. Concentrate on them and look for tacit and explicit cues in order to give them a better deal. Remember, the client gave you their time, be respectful when they are with you. Stow your phones away and keep it silent. Listen attentively and answer pertinent questions appropriately. By doing so, you would be able to furnish a perfect property deal for your client who would not only appreciate the effort but will likely close the deal with you.

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New Beginnings: Four Lessons Prospective Home Buyers Should Learn Before Buying a New Home

“There is something permanent and something extremely profound in owning a home.”-Kenny Guinn

 

Buying a home is an exciting endeavor.

There are only a few things in this life that would make you feel more financially capable, mature and responsible than investing in your first real estate property. After all, real estate properties are significant investments insomuch that it gives you a sense of satisfaction and a feeling of achievement like nothing else in this world. Indeed, buying real estate is one of the most significant investments you are probably going to make in your life—not to mention one of the most important. This is especially true with first-time homebuyers who have probably saved up a significant amount of their earnings just to be able to afford their first real estate property.

In this regard, it is best to be a little discerning about where a significant portion of your life’s savings would go. Apart from ensuring that you are making a wise investment, being a smart homebuyer also means that the chances of having real estate purchase regrets in the future are mitigated. With this in mind, it is best to be aware of the vital lessons one must know before even attempting to push through with this buying endeavor. Take note: Buying a home is more like buying a used car than it is renting an apartment. It requires you to ask questions, look at what is underneath the hood and possibly take it for a spin. Similarly, in a new home, you would need to turn on all the faucets, flush the toilets and just generally check the overall condition.

After all, you would not want to be that homebuyer who would belatedly have a devastating epiphany that you could have averted a bad investment had you been astute enough to check the property thoroughly. In any case, whether this is your first time or nth time in buying real estate property and regardless of whether you are purchasing a home at The Alcoves or elsewhere, here are some of the lessons you should keep in mind:

 

Turn on all five senses

Admittedly, when it comes to checking a prospective real estate property, most homeowners would only utilize their eyes. After all, visual appeal plays a pivotal role in influencing a sale. However, while regarding the potential home’s surroundings and observing them closely are two important things you should do, be sure that you would not disregard your other senses. In this regard, be on the lookout for odd and off-putting smells. Similarly, it is a good idea to ask the home seller to turn off any music playing so as to have a better assessment of what the noise level is in the area. After all, this might just be a clever ploy to drown out any background noise that might turn off potential homebuyers.

Partner up with skilled professionals

Most homebuyers tend not to hire the services of a professional under the guise that they are cutting costs. However, while you might pay extra for the expertise of a professional, know that what you pay actually goes a long way. Regardless of how experienced you think you might be, you do not possess the necessary skills and expertise a real estate professional does. As a result, you might make crucial mistakes that could have been very much avoidable had you involved a skilled professional. You need someone to advise you lest you commit errors not only in judgment but purchasing as well. Remember, a realtor has your best interest at heart so he or she will be more likely to advise you against proceeding with a deal that is potentially underhanded. After all, you cannot really rely on the integrity of your prospective home seller. More importantly, you would not really know whether or not a property is worth its asking price or not. For all that, you would need a professional and expert opinion.

Do not fall in love

Never make the mistake of falling in love with a home—especially if the property’s price point falls beyond your budget. Keep in mind that you should leave your heart at the door when you are shopping for a new home. More importantly, keep a rational mind and do not get sidetracked by features you do not necessarily need. Shop with your mind and be keen about what you are able to afford. Be guided by your monthly budget and stick to properties that fall within it. To prevent yourself from being disappointed, steer clear from checking out homes and properties beyond what you can realistically afford.

Buy a house you can afford today and in the future

Sure, you might be able to afford the house today but what about years from now? Beyond the asking price as well as the monthly rate you are going to pay, you would still have to fork over cash to defray maintenance payments as well as bills. Before you even think of making an offer, think of where you are in life right now and where you might be…say five years from now. By then, would you still be able to afford the home? Or would it prove to be financially cumbersome in the future? Know what kind of expenses you might have down the road and see how well the home would fit into that. Your mortgage or monthly payment should be able to give you enough breathing room to take on new expenses whenever necessary.

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Home Selling 101: Three Indispensable Tips in Writing Compelling Real Estate Facebook Ads

“If you are selling real estate and you are awake, you are doing well.”-Brad Inman

 

It is a known fact that most individuals are on Facebook nowadays, as a real estate agent, you should know how to capitalize on that phenomenon.

As a real estate agent, you should be aware that success is not only hinged on selling properties. Know that to be an effective realtor, you need to develop other key areas in your job description such as the ability to generate leads and create captivating marketing campaigns. In fact, it has been shown that riveting and catchy marketing campaigns are paramount when it comes to a successful sale—particularly in a competitive industry such as real estate. After all, how can you reasonably sell a house if you cannot generate a lead to sell it to?

With the internet giving everyone the ease of access to perhaps everything under the sun, know that it would be a very much heavily-relied tool in generating leads. Decades ago, real estate agents had virtually nothing like the internet and had to rely on networking around the town and posting ads wherever possible to generate a lead. Today, this strategy is rendered obsolete and ineffective. With social networking juggernauts in the equation, this kind of strategy does not just quite make the cut. After all, most people would be glued to their phones 24/7, do you really expect them to notice the print ads you would be posting all over town?

In any case, if you want to capture leads in this technologically fixated and advanced world, you need to adapt. How do you do this? Take your business to social media, of course! Of the social media trifecta, Facebook is the most versatile and the most widely used which means that you might be able to generate better leads using this medium. However, you cannot just rely on peppering your followers’ news feeds with ads, you need to create ads that tick, captivate and create interest. As Facebook is primarily a visual tool, your targeting options are rather linear insomuch that it would allow you to delineate the kind of market you want to reach—whether that may be prospective homebuyers looking for a 1br condo for rent in Makati to a unit in Avida Towers Centera. Now that we have illustrated all that, how do you create an attractive Facebook ad? Read on below to find out

 

Use Targeting Option

It is an established fact that among all social networks, Facebook remains to be the most popular. But apart from its widespread use, Facebook is the perfect adverting medium as it allows you to get extremely detailed in targeting your audience. If you have already delineated the goals of your campaign, you can then use Facebook’s targeting options to refine your audience. Be precise about your targeting so that you are guaranteed to show your ads to the appropriate audience.

Utilize Video

With the unparalleled prowess of technology nowadays, you can even stage a home tour without requiring your target audience to be in your property for the showing. Simply use a video recorder and give a guided tour of your house. Taking videos of your property is definitely an excellent way to get the upper hand in the real estate game considering that this technique is rather underutilized. Moreover, most prospective homebuyers would be more receptive to ads with videos as pictures are known to be deceiving. In this regard, you ought to start catching up as well and utilize videos in your ads.

Be transparent

An effective real estate agent, as well as a successful one, knows that they should capitalize on building trust. In this regard, you ought to be transparent with your leads and potential clients. Remember, people who are making a potentially huge financial decision (as well as a personal one) would want to transact business only with a trustworthy individual. While trust can be rather difficult to establish nowadays, know that you can make a good start by being transparent with your ads. In this regard, your potential homebuyers would know that what they see is what they would get and they would never feel like they are being deceived. In the creation of a Facebook ad, be realistic about the imagery and direct in your ad copy. Let the prospective buyer know what they would be getting into and exactly what is included in the deal. Be detailed about your listing and include pertinent information from the price down to the number of bedrooms.

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Home Buying: Five Things to Know As a First Time Homebuyer

“The ache for a home lives in all of us, the safe place where we go as we are and not be questioned.”-Maya Angelou

 

The prospect of buying your first home can be rather exciting, albeit a little daunting.

However, this endeavor is often fraught with difficulties if you are unaware of what it entails and what you should prepare for. Undoubtedly, the process will likely be overwhelming, however, when done right, you would not only be putting your money down on an excellent investment but you would also end up with a home you will be happy to live in for quite a long while. Furthermore, knowing what you want mitigates the likelihood of buyer’s remorse which is why it is always wise to review your options before pushing through with a deal.

In any case, if you are prepared to find the home of your dreams—whether that may be a unit in the East Gallery Place or a residential place elsewhere, here are some of the things you ought to know to minimize the likelihood of surprises when you do finally affix your signature on that contract:

 

Make sure to have room in your budget for transitional costs

Before you even shop around for homes, it is recommended that you set a budget of how much you are willing to pay for in a home. However, apart from budgeting for the property itself, you would also need to prepare for the transitional costs it entails. Remember, you still have expenses to cover on top of your mortgage so you need to adequately budget for that as well. Set a budget for the unexpected and have a plan for the allocation of the same. The earlier you plan, the less likely you will have any financial snags on top of your big investment so if you are already planning on shopping for homes, start creating your budget plan today.

Working with a good agent is paramount

Many homeowners think that home buying is an endeavor they can pull off by themselves. While they are right, going on about the house hunt and deal by yourself tends to slow down your pace and would take you a lot longer to find a place of your own at the price you can afford. Working with an agent who would be able to assist and guide you throughout the entire process would ensure that not only would you find the property you want but at the right price as well. In this time and age, the internet is at your disposal so use it to your advantage and find an agent who you think can work best to fit your needs. However, do not just arbitrarily go with anyone. Do not risk it and only select the best agent who has the expertise and comes highly recommended as well.

Determine if the price is right

More often than not, the prospect of living in our dream homes can cloud our judgment insomuch that we are willing to go beyond our budget because we are very much taken by a beautiful home. However, take the sparkles off of your eyes and check if your finances are in order before making an offer. Calculate your debt to income ratio and make sure that is manageable and is within rich. At the time, you might feel like you can make it work and that buying a home out of your budget would ultimately pay off. But, remember, paying a mortgage that is too high might end up being a financial encumbrance and would ruin your overall satisfaction and happiness in your investment. After all, just because you can borrow a certain amount to buy a more expensive home does not mean that you should.

Know the potential

First-time home buyers tend to go into the endeavor without managing their expectations which means they would likely disqualify homes that do not tick off all the boxes in their needs and wants list. However, these unrealistic expectations can deter you in the long run as demanding too much of your first home would often mean missing out on the subtle charms it already has as well as its hidden potential. For the littlest and tiniest imperfections, look for ways on how you can improve it instead of dismissing it right away.

Research the neighborhood

More often than not, a home’s location is so much more important than the home itself. In this regard, you ought to find a home that is located in a safe neighborhood that is in proximity to educational institutions as well as commercial establishments and shopping centers. Do not zero your focus on the home alone and look for one that is located in a great neighborhood as well. Choose a neighborhood with a strong sense of community and is safe and secure.

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Smart Home Buying: Negotiating Tips and Techniques Every Homebuyer Must Know

 

“In business as in life—you do not get what you deserve, you get what you negotiate” –Chester L. Karrass

 

It has never been any question whether real estate is a good investment, it has long been considered a given.

However, considering that real estate property might be one of the biggest investments you would probably make in life, it is imperative that you go approach the endeavor with much contemplation and shrewdness. In this regard, selecting a property is in by no means a task you should treat arbitrarily—you need to weight your options insomuch that you can find a property that is not only suitable to your lifestyle but comes at the best price and terms as well. After all, an old adage in real estate is that everything is negotiable. But, just how much is your prospective willing to compromise? Furthermore, do you possess the necessary skills to bring the agreement equally in your and the seller’s favor?

Buying a home does not only mean scoring the best property available, but it also means getting it at the best price possible as well. However, negotiating is a rather tricky skill that is refined over years of experience. Furthermore, it requires a great deal of knowing when to start the negotiations, how to push for more and when you should stop. In conjunction with all those, you would need to possess a shrewd skill in researching the real estate market plus a commitment to being familiar with your prospective property’s neighborhood. Take note: The more properties there are than people who want them, the better your chances in a successful negotiation are. And in this case, homebuyers have more leverage over the home prices which would then create an excellent avenue for negotiation on some homes.

Unfortunately, most homebuyers are unaware of their haggling options. Consequently, opportunities for negotiations are left unexplored when they should have been capitalized. To ensure you get the best deal possible for the prospective homes you are considering—whether that may be a condo for sale in Quezon City or elsewhere—take a gander at your options for negotiating. In any case, here are some of the techniques and tips you should never miss as a homebuyer:

 

Get an agent

As a buyer, you may have a little breathing room when it comes to the purchase of real estate property. But, that does not automatically mean that you are in the driver’s seat and can dictate the terms of how the sale would go. Unfortunately, with property listings available online, many homebuyers fall into a false sense of security and would think that real estate agents are unnecessary. Sure, you might find a house online but that does not guarantee you can actually get that offer to close.

Put your finances in order

Your offer would be so much more persuasive if it holds more weight. In this regard, you should get yourself pre-approved for a home loan. To highlight its importance, take note that some home sellers would not even consider prospective buyers who do not have a mortgage preapproval making it a paramount requirement not only in negotiations but in buying homes as well.

Do the math before getting hung up on small price differences

More often than not, homebuyers—especially first-time homebuyers—tend to be a little myopic about their prospective real estate property insomuch that they would only look at the price without considering other factors. Sometimes, you need to consider every aspect of the deal before you even consider closing on it or overlooking it. There might be instances wherein small differences would actually mean you get a better property or a more flexible payment rate. In any case, you should do the math and consider the deal from all angles before accepting or rejecting an offer.

Base your offer on the home value and not the list price

Before pitching an offer for a prospective property, take a look at the recent sales in the neighborhood first. From there, you would get the necessary information to arm you in your negotiation endeavor. Keep in mind that homes priced at or below the market value are highly unlikely to budge on their asking price whereas those priced at above market value and have been in the market for a while would be more receptive to lower offers. However, do not immediately jump the gun on the negotiations and accompany your negotiation pitch with a market analysis first.

Be prepared to move fast

Most properties that go in the market tend to disappear as soon as they hit the listings—especially if they are in ideal neighborhoods and are priced reasonably. In a competitive market, keep in mind that your first offer SHOULD BE your best offer. You might never get another chance, so ensure what you offer would not only be persuasive but enticing enough as well.

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Home Selling Ventures: Four Signs a Home Buyer is Not Serious About Purchasing

“If I were asked to name the chief benefit of a house, I should say: the house shelters daydreaming, the house protects the dreamer and the house allows one to dream in peace.” -Gaston Bachelard

 

Selling your home can be a lengthy and exhausting process.

Although it is a worthy endeavor (and a lucrative one depending on how well you can inveigle your buyers in negotiations), it can often be frustrating and just a tad bit disappointing. This is particularly true if your real estate properties have been sitting for quite some time now without any real leads or prospects. Although the market will always have a stream of interested prospective homebuyers, the market is fraught with unreliable home buyers who have no intention of pushing through a sale. Regardless of robust the real estate market might be, if you are entertaining a potential buyer who has no real intention of pushing through a sale, you will inevitably be running headfirst into a wall. The venture itself is already a challenging one, add one potential homebuyer whose purchasing intent is rather ambiguous to that equation and you would have a recipe for disappointment.

As a home seller whose main goal is to succeed in selling your property, getting your hopes up to no avail can be pretty frustrating. Unfortunately, just because one prospective buyer showed enthusiasm and expressed their excitement about your property does not automatically mean that they would right away proceed with the deal with you. In every industry, there will always be a handful of so-called prospects who would do no more than raise your hopes up only to waste your time. Your job as a home seller is to sift them from potential buyers who are genuinely interested in your property. So, how do you determine whether the prospective buyer milling about in your Avida Towers Centera has a genuine intent in buying your property or not?

Well, here are some of the signs that a homebuyer is not serious about purchasing your property:

 

1.) They have just begun their search

The search for a perfect and ideal home is a long arduous press. In this regard, it is incredibly rare for a potential buyer to go with the first property they see. In fact, it typically takes a home buyer at least three months to buy a home or even just decide to take a look at it. Of course, as real estate property is a significant investment, they would most probably look at several houses before they even decide to buy. So, if they just started their search, it is hardly likely that you will get an offer.

2.)  They do not have agents

If a buyer comes knocking to your home without a real estate agent, they are not serious about buying a home just yet. Typically, the services of a real estate agent cost that buyer virtually nothing as their commissions are shouldered by the home seller. If a prospective buyer cannot even make the effort of enlisting the free service and expertise of a professional, then they are not motivated enough to buy a home.

3.) You meet them in open houses

It is  very unlikely for you to receive an offer from a buyer who you have picked out at an open house. While some of these prospective buyers are indeed looking for a home to buy, a majority of them are there with plans of buying a home still in the horizon–which means that they are not looking to buy anytime soon (or even in that year for that matter). Serious buyers would often commence their search online and if they are interested in a property, they would request for a private showing.

4.) Looking for homes sans a pre-approval from a lender

There is no need to elaborate this as it is very clear. You do not need to read between the lines when it comes to this sign. After all, a pre-approval would be the single and most reliable way to show a home seller that a buyer can afford to buy real estate property. Without one, they would not have any real indication and concrete proof that they can.

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Real Estate 101: The Top Five Red Flags for Homebuyers

 

“Home is a place you grow up wanting to leave, and grow old wanting to get back to.” –John Ed Pearce

 

The real estate market has never experienced a rising increase in demand as much as it did today.

While it may experience sporadic periods of highs and lows, the fact remains that more and more people are buying real estate in this decade than any other decade in history. Unfortunately, the resultant effects of this phenomenon can have positive and negative takeaways. For one, the robust real estate market would mean a healthy economy, on the other, however, it could open up the possibility of individuals who would try to leverage the market trend into their favor in the worse ways possible. As it is, the rise in demand for real estate properties would also mean a significant increase in home sellers who would try to sell their properties. However, with the real estate market rife with competition, how do these sellers ensure that their homes would potentially be the one you would select? How do they drive the deal home?

While some would just double their efforts in their endeavor to sell their home, some sellers would resort to less than favorable means in selling their homes. This does not mean that they would outright lie to you, but they would not tell you the entire truth about their homes or it might ruin their chances of striking a deal with you. Sellers who are eager to sell properties in challenging and even difficult communities would not always disclose everything to potential buyers. Unfortunately, getting a professional inspection of every house you tour is not exactly feasible or practical for your finances. Not to worry though, you just have to keep an eye out and be a little more thorough during the house tour. Be meticulous about the houses you inspect and narrow down your choices by doing your own pre-inspection.

Whether the houses you are looking to inspect are located in a lush neighborhood such as Garden Towers or somewhere a little more unassuming, here are some of the red flags you ought to look out for:

 

A major exodus from the neighborhood

Sure, one of the things that a home seller must highlight would be the curb appeal of their homes in order to attract prospective buyers. However, as a buyer, you should not let the visual appeal of the home’s exteriors keep you from examining what is down the street. If you notice that there are several other homes for sale or if nearby businesses have been vandalized or have closed down, electing to live there might not be such a good idea. Talk to your neighbors and ask them about the community. If everyone is looking to leave, you might want to take that as a signal that the home would potentially be a bad investment.

Bad maintenance

Another thing you should look out for is whether or not the home seller took care of their homes and took the necessary measures to ensure its proper upkeep and maintenance while they were still living there. If they horribly failed in this aspect, you might not want to push through with the deal with them. After all, if you can see the gutters with plants growing in them and grime on the home times, it would beg the question: What else did these homeowners neglect and overlook?

Bad smells

A home reeking with fetid smells is a home that has been neglected for far too long. Regardless of whether the smell is outside or inside, it would make you think what sort of surprises there would be in store for you on account of the grody smells. In any case, bad smells should be a huge red flag. However, you should also take into account if the homeowner took the extra measure of spraying their homes in huge amounts of Febreeze or by covering it in potpourri. If the house smells too fragrant and would border on cloying, the home seller is probably trying to mask the more noxious smells.

Fresh paint on only one wall

While it is recommended (at times, even necessary) for home sellers to paint their walls in neutral hues before selling them, there would be something terribly suspect if only one wall is covered and painted. Sure, fresh paint can really bring out the potential of drab walls and boring homes. However, they can also be used as a medium to conceal problems such as water damage, mold or mildew. If the room has strange smells or there are any visible stains in the ceilings or walls, you might want to refer to an inspector who can identify molds and leaks.

Faulty or old wiring

Sure, you are not exactly an electrician but it is best to ensure that the electrical wiring, as well as all the switches, are all in good working order. After all, you would not want to subject yourself to busted circuits, flickering lights, and outlets that do not power anything. If outlets are either warm or hot, there might be an underlying wiring problem which you might want a professional electrician to check.

 

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Exploring Business Locations in the Philippine Property Market

Location is critical to business operations. A great place can attract customers and clients. It perfectly displays products and services. It is accessible to the brand target market, partners, and staff. Considering the hundreds of new developments in the country, it can be a challenge to select a favorable location for an office or a shop.

Settling on the best workplace is imperative. The right business location in a property market adds to the business’ overall growth. Think of the structure of the building and the impact of the area on daily operations. These are the factors to consider when thinking of a business location.

Market Overview

The Philippine Property Market is a growing industry. The country’s consistent macroeconomic policies and high levels of consumption make it one of the strongest performers in Asia’s economies. It’s real estate market regarding office retail, residential, and industrial sectors are expanding. According to Rick Santos, Chairman and CEO of Santos-Knight Frank (SKF), the investment inflow of 2017 created a positive ripple effect across the property sector. The market will perform even better once the government infrastructure projects are in full swing to create a conducive business environment.

Despite the optimism, vacancy in Metro Manila increased by 5 percent during the third quarter of the year 2017 due to the large volume of the additional stock. This is good news for startups and business owners looking for a place to settle. They can choose from the establishments and facilities of high-quality developments in the country.

Customer and Talent Proximity

Dwellers and opportunity-seekers of the North can choose from office spaces in Quezon City. Meanwhile, entrepreneurs and passionate muses can venture into leasing a working area in Makati City. Consider these offices below to discover what the Philippine real estate market has to offer when it comes to office spaces.

1. U.P. Ayala Land Technohub

Referred to as ‘Technohub,’ it is in the center of the country’s premier university for bright young minds. The development comes with facilities and amenities required by a firm drabbling in technology or science. It has a Tech Portal and a Retail Plaza.

2. U.P. Town Center Corporate Center

The expanse of the PEZA-certified office facility lies on Katipunan Avenue. It is part of the University Belt and located within Ayala’s shopping mall. It has access to several retail brands, popular restaurants, and services for workers and residents in the community.

3. Vertis North Corporate Center

The Corporate Center is the latest addition to the office centers in Quezon City. It is part of a community with mixed-use residences, hotel, and entertainment areas. Shops at Vertis North are available at near public transportation for the working class of the North.

4. 6750 Ayala Avenue

Those who value elegance, sophistication, and visibility can fit right in the topnotch office location of Makati. The 6750 building is right beside the highly-rated bistros, luxury boutiques, and serviced apartments. It complements the cosmopolitan lifestyle of the city through its serviced and virtual offices and meeting room facilities.

5. McKinley Exchange Corporate Center

The towering office stands in the corner of EDSA and McKinley Road in Makati City. Though not within the vicinity of Makati Central Business District (CBD), it still has direct access to the MRT station, bus stops, jeepney and shuttle terminals. Conducting business in the area makes it visible to thousands of passengers passing Epifanio de los Santos Avenue (EDSA).

6. Solaris One

The prime property along Dela Rosa Street is BPO-ready. It comes with high-end facilities, centralized chilled water system, high-speed large-capacity elevators, and above- grounds parking lots. It is close to the retail and dining establishments of People Support Center and Convergys One.

These office and retail spaces are in the busy areas of each city. They are close to potential buyers and highly-accessible through different modes of transportation. The hassle-free travel attracts customers and clients to the business. The same goes for promising talents. The short distance and travel time improves their productivity. Employees can provide high-quality work when they have good health and are in the excellent working environment.

Expandability and Equipment

The office space must not only focus on the present. It must also lean into the future. Business will grow and expand in the future. The office must be able to accommodate all the equipment, furniture, and staff it takes in overtime. It is also necessary to have space intended for clients. A room for meeting and transactions makes them comfortable and feel welcomed. At the same time, the location of the business must have ample parking space.

It is a must for a firm to have ample space for their equipment for production and provision of service. Apparatus and machinery must spread out in various rooms to avoid looking cluttered. The working area won’t appear unpleasant when supplies are in their proper places.

Monetary Inclusion

Never invest in office space when you don’t have enough budget for it. Spending beyond financial limits causes financial troubles later on. Ensure lease payments and other expenses fits budget without compromising its quality. There are hundreds to thousands of office spaces available in the Philippines to become the home of a startup or business organization.

The real estate sector of the Philippines continues to exhibit growth as more infrastructure projects are on its way. The demand for mobility, flexibility, and connectivity from freelancers will shape the future office launches in the country. Developers continue to seek opportunity in and out of Manila to supply the need of increasing occupancy rate from various sectors.

 

Send Me Your Location: Retail Spaces

Commercial real estate varies from residential. The type and size of a business is a factor when looking into a potential commercial space. A small enterprise with limited inventory could settle in kiosks. Meanwhile, other firms may require spots in shopping malls or a free-standing structure.

There’s no need to rush when deciding on retail space. It’s much better to build a solid conclusion than a half-hearted decision. Below are pointers that can help one decide which is the best retail space for the business.

1. The space covers the business’s wants and needs.

Setting up a restaurant requires a huge floor area as it has a kitchen and a place for diners. A clothing store or fashion house at Solaris One may expect less than a restaurant. Meanwhile, a repair shop can do well with specific square footage especially when it doesn’t make stock items for sale. The size of the retail space will impact its price. It’s essential to note these details, especially when considering a budget.

Other than sticking to a budget, the potential of the business to expand is s factor to consider. The brand may attract customers that will boost sales and require an additional stock of merchandise, seating or service. The space must be enough to cover current needs, but it must also be flexible to allow expansion.

Lastly, the space must share the brand’s story. It must be customizable and ready for changes and renovations for owners and companies to convey their message to customers.

2. Customers and talents are within the area.

Knowing the brand’s target market provides an idea of the geographical location of potential buyers. If the space is in a place accessible to the target market, it gives them the convenience to avail the product or service. At the same time, consider the climate of the business community in the area. A community of supportive and growth-based entrepreneurs helps micro and small businesses thrive. Meanwhile, a competitive landscape is unhealthy for growing companies.

Future employees and staff must also be in mind when scouting for retail spaces. The ease of travel improves productivity at work. A workplace far from home results to tired and haggard talents. Their fresh energy gets worn out during the commute. When the retail space is near the skilled workers, the business gets the best out of its human capital.

3. The price of the property fits the budget.

Going for a retail space that is over the budget is overspending. It cancels the purpose of setting up a business – generate income to earn a profit. An area beyond financial limit causes troubles later on. Still, the space must be a high-quality retail space that suits the brand and enterprise.

4. Public transport and infrastructure are available.

The main concern when considering clients and staff is their convenience of travel. It’s a plus when the retail space is near different modes of transportation and government institutions vital to your operations. Moreover, it is also an advantage when Internet and telecommunication providers cover the business location. Since most transactions are online, the Internet connection will benefit operations by having a more extensive customer reach and streamlining business process.

5. There is space allocated for parking.

Most business owners forget to consider the need for parking spaces. Ample parking space is valuable for clients and people who are part of the company to prefer to reach the area through their vehicles. How hard is it for them to suitable parking space especially in a busy area such as a central business district. These people may choose a competitor with similar products or service because of the lack of space. Be it in front, back or beside the retail space, and the parking space must be accessible to clients.

6. The space must not have strings attached to it.

The full cost of the space comprises the rent, utilities, construction costs, moving expenses, and a list of other expenses that may not be obvious in the beginning. There may be costs associated with the move such as the restoration or remodeling of the space.

7. The lease terms and rental rates must be secure.

To get the best out of a lease contract, it must be subject to renewal. Any increase in rental rates must be subject to review by the landlord and the lessee. Furthermore, survey the rental price if it is the gross or net. Most figures are net. It only shows the base or the payable amount.

8. Furniture, fixture, and equipment is a must for business.

Their retail space must include furniture, fixture, and equipment since they produce products and offer services. Stocking these items in a corner contributes to an unpleasant environment. The retail space must be roomy for the bulky items. That is a property where rooms are not scarce is a keeper.

Retail Spaces Need the Time and Place to Come Through

The needs of the business entity as well as its customers and staff make up the factors to use as a guide when choosing a retail space. Besides these factors, the basics of deciding on real estate decisions such as lease terms, property price, additional expenses, as well as proximity to modes of transportation and infrastructure, affect the attractiveness of the space.

Note: This article was first published on May 5, 2016, as “Where Should You Locate Your Business?” It was revised and updated for accuracy and comprehensiveness.

Real Estate Investments: Four Factors and Aspects to Consider in Pricing a Home for Sale

“The art of selling one house is different than the science of repeating it flawlessly over and over”-Chantel Ray

An excellent sentiment to keep in mind when it comes to selling homes is to price it right. As the maxim goes, if you price it right, it sells overnight. Should your price it wrong, then it stays on too long. With this in mind, giving your properties a fair selling price should be one of the significant considerations you should take into account. Although there is a myriad of factors that go into a buyer’s decision in closing a deal with a home seller such as the location and features of the home, the asking price of the property is of paramount consideration. However, how does one ensure that the home is priced just right? How do you come up with an asking price that would encourage a timely sale? Indeed, this has been a feat that has evaded even the most seasoned of home sellers as well as professional realtors. Considering that the real estate market is perpetually in an erratic state, coming up with an ideal price that would be a fair deal to both home buyer and seller as well as encourage a quick sale is something that would require years upon years of experience complemented with professional expertise—and even then, it does not always guarantee you an opportune sale.

Numerous studies have indicated that should a home remain on the market for quite a long time, there is a likely chance it would not fetch as much money as it would have when it finally does sell. This can be quite the predicament—especially if you have found yourself stuck with a property that would not sell because you priced it exorbitantly. For this reason, pricing a home correctly from the get-go is an imperative factor to consider. However, while accurately pricing your home to the dot is not easily done, it is very much doable. All you would need to do is to have an understanding as to how to go about the pricing process.

If you think you can con your prospective buyers into agreeing on a higher asking price, you may need one to reconsider that. Take note; your prospective buyers have all the access to a considerable amount of information about your home. With this type of information at their disposal, it will be implausible for a buyer to purchase a home at a price that is considered above market value. Unfortunately, quite a lot of sellers are under the impression that pricing a home higher would result in higher sales. Believing this sentiment could potentially be damaging to your revenue as the longer your home sits on the market, the more inclined you will be to reduce its price. In some cases, you might even be constrained to trimming it so that you can sell it. Pricing your homes right should be a vital consideration—regardless of whether you are selling a home or property in One Serendra or elsewhere. To ensure that value your home close to the appropriate asking price as you can, here are some of the factors you should consider:

1.) The condition of the market

Generally, before even thinking of selling a home, the standard practice is to take a long and meticulous look at the housing market. After all, if you do not scrutinize it well, you would not be able to come up with a realistic asking price. For some time, the real estate market has shown signs of improvement. But, do not let this be the sole basis of your asking price as over the years, there have also been several dips that might consequently result in more dips as time goes on. Selling on a slow real estate market climate means having to price your homes competitively—that is if you wish to move the house. Alternatively, you can bide your time and wait for things to improve. However, if the market does not recover, you would be compelled to pricing your home lower than what it would have fetched should you have begun at the outset.

2.) Compare sold properties

One aspect to consider when pricing your home right is to take a look at recently sold properties that are in your area. Apart from that, look for properties similar to yours and come up with a figure that would be both fair to you and your buyer. The population density of your area should be a consideration. If you live in a particularly populated city, your search should only be limited within a mile of your home’s location for recently sold homes.

3.) Consider current inventory

If you wish to have an approximate feel of how competitive the real estate market is, take a gander at the current home inventory in your area. If there are a plethora of houses similar to yours at the moment, you would need to price your home a little more aggressively to attract attention—particularly in a competitive market climate. However, if there are fewer homes for sale, you can price your homes a bit higher if you wish as there would be quite a number of people looking to buy. However, the main driving point for your asking price is to ensure that your home stands out from the other homes on the market. It should be distinctive and should attract attention.

4.) Compare active properties

Apart from taking a look at the overall home inventory in your area, another thing you should consider doing is to analyze other properties that are currently for sale while you, yourself are selling. Homes that are already on the market have already gone through the very same processes you subject your homes go through. With this in mind, the prices of these homes would give you a rough estimation of how much your asking price should be. If you priced your homes higher than comparable homes, you run the risk of the house sitting and not selling. As a result, your home would be less valuable.

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